eBay Q4 income jumps with help from Skype unit, Paypal
San Jose, Calif. eBay reported that its fourth-quarter earnings rose as its PayPal payments business grew and holiday shoppers gravitated to its online auctions and “Buy It Now” offerings.
eBay reported a net income of $1.4 billion, compared with $367 million in the same quarter in 2008. Revenue for the quarter was $2.37 billion, up 16% from $2.04 billion in the year-earlier period.
The company also logged a large gain from the November sale of its Skype telecommunications business. Skype was recently sold for $1.9 billion and eBay is now a minority stockholder in Skype, with a 30% share.
In eBay’s biggest segment — which includes eBay.com, Shopping.com and other e-commerce sites — revenue rose 15% to $1.46 billion, helped by more sales of fixed-price items and an increase in international sales.
Meanwhile, the number of active registered eBay users rose 3% from the year-ago period to 90.1 million.
Its gross merchandise volume, excluding vehicles, also rose, gaining 24 % to $14.2 billion.
For the full year, eBay earned $2.4 billion on $8.7 billion in revenue.
Safeway promotes ‘The Market’ with swag
SAN JOSE, Calif. Safeway announced that it is promoting its new “The Market by Safeway” store concept in San Jose, Calif., by hosting a three-day “Swag-apalooza event on the San Jose State University campus Jan. 26 to Jan. 28.
Brand ambassadors for The Market will be on campus to inform students about its products and services, the company reported. Students will also have the chance to win such prizes as free pizza, energy drinks and $10 gift cards. Brand Ambassadors will also distribute free music download cards as well as offer students a chance to to win a 50” flat screen TV, Xbox, futon and mini-fridge stocked with food.
The Market was introduced in August, 2009 and occupies 24,000 square feet on the ground floor of The 88 apartment tower, at 2nd and San Fernando in San Jose, Calif.
Best Buy promotes TV deals
MINNEAPOLIS Best Buy this week is promoting deals on televisions and other home theater products.
With the Super Bowl coming soon, Best Buy announced that, through Feb. 6, it is offering the Samsung 46-inch 1080p LED TV (Model: UN46B6000VF) for $1,599.99 — a savings of $900.00. And this week only, customers looking for a complete home theater make-over can purchase that Samsung 46-inch 1080p LED TV, along with a Samsung soundbar and WiFi Bluray player, Rocketfish HDMI cable, and Geek Squad installation for only $1,999.99 — a savings of more than $1,400.00. Both offers, as well as any TV over $999.00, are eligible for three-year financing, free delivery and free recycling.
“For decades, Best Buy has delivered a superior viewing experience for sports fans looking to enjoy game day from the comfort of their living rooms,” says Josh Will, vice president of Home Theater, Best Buy. “We offer in-home consultation, superior product selection and installation services, as well as some of the best values in the industry to give our customers a home theater experience that fits their individual needs.”